Sources: Russian insurer Sogaz may buy VTB Insurance

MOSCOW, Nov 9 (PRIME) -- Russian insurance company Sogaz may buy VTB Insurance, a subsidiary of the country’s second largest bank VTB, several sources on the insurance market told PRIME late on Wednesday.

One of the sources said that Anton Ustinov, chairman of Sogaz management board, announced the purchase last week, while another source said that the deal may be closed in early 2018 after the Federal Antimonopoly Service has approved it. Still, everything may change during approval by the service, the source said.

Sogaz and VTB Insurance declined to comment.

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